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Crypto Analyst: #Dogecoin Could Rally 2,500%, Possible Targets
Crypto researcher says Dogecoin (DOGE) might climb 2,500% in bull cycle. He identified meme coin bull run price goals in his study.
Dogecoin may rise beyond $3, since it consistently exceeds the 1.618 Macro FIB extension from past bull and bear market highs (previously Twitter). He said that DOGE's 1.1618 FIB on its chart is $3.80, suggesting it might overcome this price level.
The crypto researcher said Dogecoin may struggle to reach similar heights in this bull run “due to the market cap and capital saturation,” with more meme currencies on the market. He added that Dogecoin's history suggests it's doable.
Kevin also suggested $0.95 and $1.35 as “notable” price objectives for the meme currency if it doesn't reach $3 based on its previous performance. Kevin's opinion is more positive for Dogecoin, which some crypto experts expect to reach $1 this cycle.
Kevin is positive on Dogecoin despite its poor price performance. He predicted the meme currency would overcome its downturn but said it still needs “multiple weeks of upward price action away from achieving this bull market milestone.”
Recently, the crypto researcher said Dogecoin needs a monthly close over $0.16 to validate its bullish continuance. He said a closure above that level “would confirm a perfect retest of the previous bear market accumulation range” and boost “monthly momentum strongly for more upside.”
Current crypto market cap: $2.2 trillion. TradingView chart
Dogecoin Price Action: A Different View
Australian exchange Swyftx head analyst Pav Hundal cautioned that Dogecoin may not reach $1 as many expect. He added that crypto investors who acquired DOGE at its all-time high (ATH) of $0.73 at the pinnacle of the previous market cycle may sell it before it reaches that price level.
These investors may try to break even if Dogecoin achieves a new ATH, which might derail its $1 ascent. Hundal, like Kevin, mentioned meme coin market saturation and how Dogecoin may lose popularity.
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